In yet another sign that social expertise is currently in high demand, the New York-based social media software company Percolate today announced its $9 million series A funding round.
Percolate has secured some big-name clients like GE and American Express (companies pay between $5,000 and $15,000 for the software license) with its algorithmic engine that scans social content across the Web for relevant material and allows brands to manage and create original content around suggest ideas in order to bolster their presence on social media.
Led by GGV Capital, the new round is another indicator that the market for social media is red hot. Percolate co-founder Noah Brier credits big moments in 2012 like Facebook's recent IPO and Twitter's sales push to educate brands as forces that have legitimized social as the future of marketing. "Brands have been looking at social for a while now and realize changes need to happen. The lifeblood of social is content and the bottom line is that none of it would exist without brands creating content organically on social."
According to Brier, the influx of cash will be used to expand Percolate's staff of 28 in the coming months as the company will look to make serious hires on both the sales and engineering sides.